During the quest to compare boat insurance quotes, you may be tempted to roll the dice and forego protection completely. If nothing happens, you’ll save money. So what’s the harm of setting sail without boat insurance?
Read below as we share some of the disasters that can occur when a boat owner opts not to carry appropriate insurance coverage. It’s important to note that these cautionary tales aren’t ‘one in a million’ occurrences. Every day, boat owners like you experience accidents. Some have small ramifications – and others can result in years of lawsuits. One element is the same for both instances: Those who opt to follow through on that comprehensive boat insurance quote are the ones who breathe a huge sigh of relief.
And the others? They’re left wishing they could go back in time and answer ‘yes’ to that boat insurance quote.
Damages from collision range from tiny scratches in the gel coat to massive, take-that-boat-to-the-junkyard tragedies. Even the best boat captains can’t always prevent collision damage, so the argument I’m a great driver, so that won’t happen to me is not valid. The person who opts not to carry boat insurance is left paying for the damage or craft recovery out of pocket. Note that if your boat is submerged, hull insurance includes salvage charges which help offset the expense to haul the craft out of the water. Also, high-tech navigation equipment on board may be difficult to replace, monetarily-speaking. Common claims include lightning damage and boat thefts. Remember that for any insurance policy to respond to coverage, a covered cause of loss has to be substantiated.
Property Damage Liability
Again, sometimes not even the best captain can avoid an accident. Lose sight of the dock during your approach? That damage caused by your hull damaging the pilings or taking out a portion of the dock is on your dime. Likewise if you collide with another craft, docked or otherwise. This example can lead to more monetary trouble – with a side of legal malaise thrown in the mix.
Should you and your boat be implicated in the injury of another, you could be liable for medical bills, pain and suffering, lost wages and more. Even if you are not concerned with the possibility of physical damage to your boat, you should care about potentially harming a person.
Boat owners, we know that searching for boat insurance quotes isn’t at the top of your Favorite Things list. That’s why W3’s marine insurance advisors make getting the right coverage easy. It’s not a question of whether you need boat insurance – it’s how much you should carry.
Contact W3 today and one of our knowledgeable advisors will customize a quote that offers just the right amount of estimated protection you’ll need.
Just that action alone will help you breathe easier out on the water. After all, worrying about what could be is much less fun than planning your next voyage buoyed by the stability boat insurance offers.
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